Allowed

Canara Bank (Syndicate Bank) v. Sh Anil Singla

DRT14 Sept 2023OA/325/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an application filed by Canara Bank for the recovery of Rs.27,11,483.24 plus interest against two defendants who failed to repay a housing loan. The court proceeded ex-parte, found evidence sufficient, and directed the issuance of a recovery certificate and sale of mortgaged properties.

What did the court decide?

Application allowed; Recovery Certificate issued; Defendants liable to repay with interest; Properties to be sold as per law.

Canara Bank (Syndicate Bank) versus Sh Anil Singla — Contract and Commercial Disputes | DRT (2023)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH

¶2

BEFORE: A S NARANG, PRESIDING OFFICER

¶3

OA No: 325 of 2022 Date of Institution: 28.10.2021 Date of Decision: 14.09.2023

¶4

Canara Bank, (erstwhile Syndicate Bank), Commercial Site, SCO 43, 44 Civil Station, Near Power House Road, Bathinda, Punjab-151001.

¶5

……..Applicant Vs.

¶6

Sh. Anil Singla S/o Sh. Prem Nath Singla, R/o House No.526-F, Madhuban Street, Amrik Singh Road, Tehsil And District Bathinda, Punjab-151001.

¶7

Smt. Ekta Singla W/o Sh. Anil Singla, R/o House No.526-F, Madhuban Street, Amrik Singh Road, Tehsil And District Bathinda-151001.

¶8

……….Defendants

¶9

Advocates

¶10

Sh. Neeraj Madaan, Counsel for the applicant bank. Defendants- Ex parte .

¶11

OA for the Recovery of Rs.27,11,483.24p with interest @8.80% per annum with monthly rests from 01.05.2021.

¶12

ORDER

¶13

Canara Bank (erstwhile Syndicate Bank) (Applicant Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.27,11,483.24p with interest against Sh. Anil Singla And Another (defendants).

¶14

Bank’s case is that on 18.10.2014, it had granted Housing Loan of Rs.22.00 lacs to defendant no.1. Defendant no.2 stood as guarantor. To secure the loan, Defendant nos.1 and 2 had mortgaged their immovable properties (fully detailed in para No.3(A) of the application). The loan was chargeable to interest @10.25% per annum with monthly rests. On 30.04.2021, a sum of Rs.27,11,483.24p was due from the defendants.

¶15

¶16

Despite repeated requests, defendants did not make the repayment. Hence, this application.

¶17

On 09.03.2022, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Accordingly, defendants stand proceeded ex-parte. 4. In order to prove its case, the Bank has placed on record the affidavit of Mr. Ashok Kumar Srivastava, Senior Manager along with the loan and security documents and marked them as Exhibit A-1 to A-20. 5. I have perused the evidence on the record. I am of the considered view that the Bank has proved its case that it had advanced the loan of Rs.22.00 lacs and on 30.04.2021, a sum of Rs.27,11,483.24p was due. 6. Accordingly, the application of the bank for the recovery of Rs.27,11,483.24p (Rupees Twenty-Seven Lacs Eleven Thousand Four Hundred Eighty-Three And Paisa Twenty Four Only) with interest @8.80% per annum with monthly rests from 01.05.2021, till the date of payment is hereby allowed with costs. The liability of all the defendants would be joint and several. Bank can recover its dues by the sale of mortgaged properties (fully detailed in para No.3(A) of the application) as well as from the personal movable and immovable property(ies) of the defendants.

¶18

7.	Pending IAs, if any, stand disposed of.
8.	Recovery Certificate be issued accordingly.
9.	Parties are directed to appear before Recovery Officer on
17.10	.2023, who is directed to distribute the sale proceeds of the
mortg	age properties as per the provisions of Section 19(20-AB) of the
Act.

¶19

¶20

A Copy of this order along with Recovery Certificate be sent to the Recovery Officer as well as the parties. Pronounced in the open court. (A S Narang) Dated: 14^th September, 2023 Presiding Officer DRT-1, Chandigarh

Canara Bank (Syndicate Bank) v. Sh Anil Singla

Case brief

What is this about?

What did the court decide?

Canara Bank (Syndicate Bank) v. Sh Anil Singla

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

Hdfc Bank versus M/S Sree Durga Motor Stores

Idbi Bank versus Divyesh Niranjan Patel

Icici Bank Limited versus Samir Das

Sh. Baba Bhagwant Bhajan Singh versus Recovery Officer-Ii Debt Recovery Tribunal -I

B S Scaff Folding Industries versus Uco Bank

Mr Ravindra Gambhirrao Sapkal versus Asrec India Limited